03/01/2018 - 07:09

Morning Headlines

03/01/2018 - 07:09

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Morning Headlines

Blackham secures two-week reprieve

Mining veteran Milan Jerkovic is taking the reins at embattled gold producer Blackham Resources, which has negotiated a standstill agreement on a $14 million debt repayment due this week and plans to ask shareholders to contribute $36 million of new capital. Business News.

Perth property values stabilise

Perth housing prices are continuing to stabilise after three years of weakness, in marked contrast to substantial falls in Sydney and Darwin. Business News.

Three-month delay to GST fix

A potential shake-up of the GST to deliver WA a fairer deal has been dealt another setback with the Productivity Commission requesting a three-month extension of its review. The West.

Big banks to slash 20,000 jobs

The big four banks are set to accelerate plans to thin the ranks of full-time employees by 20,000 in 2018 and beyond as earnings growth slows and costs become harder to control. The Fin.

WA Premier defends mining ban despite jobs concern

West Australian Premier Mark McGowan has defended a decision that scuttles Mineral Resources’ iron ore mining operations in the state’s Yilgarn region despite the threat to more than 400 jobs. The Fin.

Carbon war: Abbot fires up for battle

Page 1: Malcolm Turnbull is facing a backlash over his energy policy as conservative MPs including Tony Abbott condemn a proposal to allow power companies to meet emissions targets by buying permits from overseas as a “carbon tax” by stealth. The Aus.

IMF tells Morrison to go hard on debt

 The government should abandon its long-delayed goal of achieveing a budget surplus of 1 per cent of GDP and instead set a hard target for reducing net debt, an International Monetary Fund study recommends. The Aus.

The Australian Financial Review

Big banks to slash 20,000 jobs

Page 1: The big four banks are set to accelerate plans to thin the ranks of full-time employees by 20,000 in 2018 and beyond as earnings growth slows and costs become harder to control. The Fin.

WA Premier defends mining ban despite jobs concern

Page 15: West Australian Premier Mark McGowan has defended a decision that scuttles Mineral Resources’ iron ore mining operations in the state’s Yilgarn region despite the threat to more than 400 jobs. The Fin.

Housing prices are falling, the boom is over

Page 3: Australia’s long-running house price boom is over, with new data showing national dwelling price growth is now falling after having stalled for two months.

Housing crawl poses manufacturing risk

Page 5: The manufacturing sector is exhibiting signs of potential contraction linked to the slowdown in housing construction.

Push for new asset recycling scheme

Page 6: The Turnbull government is being urged to launch a new round of infrastructure incentives for state and territory governments, with lobby groups favouring a return to the Abott-era asset recycling model.

PM’s republic talk dismays colleagues

Page 8:  Coalition MPs are demanding Malcolm Turnbull focus on bread and butter issues in 2018 after the Prime Minister kicked along the republic debate, warning the government does not have the political capital to dwell on niche matters.

ANZ cuts commissions for risky loans

Page 16: ANZ is cutting upfront commission payments to mortgage brokers recommending loans to potentially risky clients with low deposits in its latest move to tighten prudential standards.

The Australian

Carbon war: Abbot fires up for battle

Page 1: Malcolm Turnbull is facing a backlash over his energy policy as conservative MPs including Tony Abbott condemn a proposal to allow power companies to meet emissions targets by buying permits from overseas as a “carbon tax” by stealth.

IMF tells Morrison to go hard on debt

Page 4: The government should abandon its long-delayed goal of achieveing a budget surplus of 1 per cent of GDP and instead set a hard target for reducing net debt, an International Monetary Fund study recommends.

Westpac targets $700bn SMSFs

Page 13: Westpac, the only major bank not to completely or partially divest its wealth management businesses, is planning to ramp up its charge into the $700 billion self-managed superannuation market.

ASIC flexes muscles and follows the data

Page 13: ASIC is deploying its vast data-collection and analytics capability showcased in last year’s review of mortgage broker remuneration as it builds up to release public reports from a range of financial services industry inquiries.

KPMG chair; chiefs should admit to errors

Page 13: The new chairman of big four accounting and consulting firm KPMG and one of the nation’s top auditors has urged corporate Australia to “get ahead of the whistleblowers” and be prepared to publicly own up to mistakes and bad behavior to help bridge the widening trust deficit with the community.

Telstra’s high-flying plan for better services in bush

Page 14: Australia’s biggest telecommunications provider is eyeing off how aerial vehicle platforms that operate at much higher altitudes than commercial jetliners can be used during natural disasters and to provide services to the bush.

The West Australian

Three-month delay to GST fix

Page 5: A potential shake-up of the GST to deliver WA a fairer deal has been dealt another setback with the Productivity Commission requesting a three-month extension of its review.

NEXTDC moves closer to winding up landlord

Page 51: Data centre company NEXTDC has kicked off its bid to wind up its landlord, saying the Asia Pacific Data Centre Trust is “no longer fit for the purpose for which it was established”.

Prices push up milk production

Higher Milk prices and more favourable weather are starting to flow into a recovery in Australian production and exports.

Pitcher takes a room with view

Page 52: Pitcher Partners this year moves to the top floor of 12-14 The Esplanade, giving it a front row seat to the evolution of the Metropolitan Redevelopment Authority’s Elizabeth Quay.

Heritage infill prize

Page 52: Fremantle-based Bernard Seeber Architects has won a design competition to deliver creative infill public housing options in the heritage suburb of Hilton.

Freo demolition

Page 52: Sirona Capital’s $270 million Kings Square Fremantle development has reached another milestone, with the City of Fremantle selecting Delta Pty Ltd to demolish the council’s old administration building.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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